Homebuilder sentiment falls in February

Homebuilder sentiment fell to a nine-month low in February,
according to the National Association of Homebuilders' latest
report.

The NAHB's housing market index fell to 58 and had been forecast
at 60, as confidence declined across all four US regions
according to Bloomberg.

"This is a bit disappointing, but it is hard to square with
the rising trend in mortgage applications,"
wrote Pantheon Macroeconomics' Ian Shepherdson. "Most of the hit
was in traffic of prospective buyers, which dropped
five points to 39."

Last month's print was revised upwards to 61 from 60.

The monthly report gauges NAHB members' outlook for the sale
of new homes right now and in six months.

Later this week, we'll get data on housing starts and building
permits.